Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Amazon Debuts “Amazon Now” for 30-Minute Ultrafast Grocery Delivery 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Samsung Launches Galaxy Z TriFold to Elevate Its Position in the Foldable Smartphone Market 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
ExxonMobil to Shut Older Singapore Steam Cracker Amid Global Petrochemical Downturn 
Samsung C&T Corp. will be building a solar power plant in Qatar under a $595.2 million or about KRW800 billion deal. The South Korean construction and engineering company is expected to complete the construction by November 2024.
According to The Korea Economic Daily, once the solar power facility is finished, it is will have a total capacity of 875 megawatts. The project will help the country diversify its energy resources, and Samsung C&T will also be able to expand its future environmentally-friendly businesses.
It was on Wednesday this week when the construction arm of the Samsung Group revealed it had signed a deal for engineering, procurement and construction (EPC) works with Qatar Energy, a state-run company that was formerly called Qatar Petroleum. They will be working for the country’s industrial cities’ solar power project (IC Solar).
The project also includes the launch of two photovoltaic solar power plants that will offer a total capacity of 875 MW. Samsung C&T is set to construct one facility that will be capable of generating 417 megawatts of power in Mesaieed Industrial City which is located around 40 kilometers in the southern part of Doha. The other plant will have a capacity of 458 megawatts, and this will rise in Ras Laffan Industrial City which is located 80 kilometers north of the capital.
“This IC Solar project is a major step in the implementation of our strategy to diversify Qatar’s energy resources and to increase the reliance on high-efficiency renewable energy, which is a cornerstone for a sustainable future,” Qatar Energy president and chief executive officer, Saad Sherida Al-Kaabi, said in a statement. The company chief is also the country’s Minister of State for Energy.
In any case, an official of Samsung C&T also commented about the solar power project saying, “We are strengthening portfolios in the eco-friendly future businesses including renewable energy generation, green hydrogen and ammonia, as well as small module reactors (SMRs). He added that starting with its solar power deal in Qatar, the company will apply the results to its new businesses.
